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Hervé Falciani: HSBC leaks are the tip of the iceberg

In Blog by Ian Fraser2 Comments

February 14th, 2015 (updated February 20th, 2015) Hervé Falciani is the man behind the largest leak in banking history. In this interview, filmed in February 2014), he told the British filmmaker Nick Francis why he had little choice but to become a whistleblower after he discovered that the board of directors of …

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Bill Black: We’ve given bankers a licence to defraud

In Blog by Ian Fraser1 Comment

February 7th, 2015 As a U.S. Federal litigator, Bill Black had a pivotal role in ensuring that hundreds of the bankers behind the U.S. savings and loan crisis of the late 1980s were put behind bars. Since then, he’s become increasingly exasperated by his country’s failure to prosecute any senior bankers for the …

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FCA colluded to cover up alleged HSBC fraud

In Blog by Ian Fraser11 Comments

January 23, 2015 (corrected March 2, 2015. See note) When John Griffith-Jones and Martin Wheatley, chairman and chief executive of the Financial Conduct Authority, appear before the Treasury Select Committee at 9.30am next Tuesday, 27 January, the 13 MPs on the committee have an unprecedented opportunity to establish whether the FCA, just like its predecessor the FSA, is colluding …

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Paul Mason is right to be angry with RBS

In Blog by Ian Fraser0 Comments

November 12th, 2014 This is brilliant off-the-cuff reporting by Paul Mason, economics editor of Channel 4 News. It’s all very well for the Royal Bank of Scotland’s chief executive Ross McEwan to claim to be angry that some of his bank’s traders rigged the FX markets in order to rip off the bank’s …

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Was Mallett thrown to the wolves to save BoE’s skin?

In Blog by Ian Fraser1 Comment

November 12th, 2014 Guest Post by Rowan Bosworth-Davies One of the major unexplained elements in the foreign exchange (forex) rigging case is the level of knowledge of manipulative activity possessed by the Bank of England. If it, as a leading market participant and a regulator, had prior knowledge that the forex …

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Danny MacAskill takes stunt cycling Skye high

In Blog by Ian Fraser3 Comments

October 2nd, 2014 This is easily the best Danny MacAskill video ever. I particularly like the bit where the fearless stunt cyclist is perched on top of the Inaccessible Pinnacle, adjacent to the summit of Sgurr Dearg. The seeming nonchalance with which MacAskill climbs the “In Pin”, as it’s called, with his …

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Why Cameron should change tack and abide by the spirit of Edinburgh

In Blog by Ian Fraser0 Comments

September 16th, 2014 In an interview broadcast on BBC1 earlier this evening, David Dimbleby asked Scotland’s first minister, Alex Salmond, for his views on possible currency and financial market turmoil in the event of a “Yes” vote in the Scottish independence referendum. Dimbleby was implying that, in the event of a “Yes” …

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Decrying Wolf’s ‘What happens after a yes vote?’

In Blog by Ian Fraser0 Comments

September 16th, 2014 (last line edited September 17th, 2014) Martin Wolf repeats a number of fallacies about Scottish independence that have long since been disproved in the debate he has missed, writes Professor David Simpson The only positive message to be taken from Martin Wolf’s article, published in last Saturday’s Weelend FT, …

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How the BBC ‘muzzled’ a professor who cast doubt on its impartiality

In Blog by Ian Fraser3 Comments

30 August 2014 Meet John Robertson, professor of media politics at the University of the West of Scotland. Robertson led a team of researchers from the University of the West of Scotland (UWS) that investigated how TV broadcasters were covering the Scottish independence referendum campaign. The research, which covered the period September 2012 to September 2013, included an analysis of 620 …

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Ross McEwan: “RBS is a yacht with a spinnaker up”

In Blog by Ian Fraser0 Comments

July 13th, 2014 On 2 May 2014, the Royal Bank of Scotland’s New Zealand-born chief executive, Ross McEwan, unveiled a surprisingly strong set of financial results for the bank that he has led since 1 October 2013. But has it really turned the corner? McEwan the and RBS’s outgoing finance …

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Shredded Tweets

In Blog by Ian Fraser0 Comments

July 7th, 2014 Here is a selection of tweets about Shredded: Inside RBS The Bank That Broke Britain which was published by Birlinn Books on 6 June (a few other Shredded Tweets are posted here). I’d like to thank all the senders of these messages for buying the book, reading it, and …

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The FCA no less ‘captured’ than its predecessor

In Blog by Ian Fraser2 Comments

June 27th, 2014 (minor edits Oct 3rd) The Financial Conduct Authority, established in April 2013, has failed its first test. Its review of the interest rate swaps that were sold on an industrial scale by banks to gullible small business customers, especially in 2004-08, has fallen short on a number of fronts. …

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RBS job advert casts doubt on the assertions of Sach

In Blog by Ian Fraser0 Comments

June 26th, 2014 The Royal Bank of Scotland seems to be rather confused over whether its infamous Global Restructuring Group is run as a “profit centre”. A job advertisement placed by the bank in January 2014, clearly states that the “role purpose” of relationship managers within GRG is to be …

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RBS’s annual meeting was more placid than usual

In Blog by Ian Fraser0 Comments

26 June 2014 The Royal Bank of Scotland, which last year made losses of £8.2 billion, held its annual general meeting yesterday. The shareholders’ gathering was a slightly calmer affair than some of the recent ones I have attended. Held at the bank’s sprawling, campus-style “world headquarters” at Gogarburn, near Edinburgh – itself a …